School News Network
Chandigarh, May 06 2020
Chandigarh, May 06 2020
The Chandigarh Administration has hiked the VAT rates on petrol & Diesel.
The New rates of VAT on petrol is “22.45% or fixed rate of Rs. 12.58 per litre whichever is higher” and on diesel is “14.02 % or fixed rate of Rs. 7.63 per litre whichever is higher”.
The earlier rates of VAT on petrol & diesel were 17.45% and 9.02% respectively.
With the increase in VAT rates, the selling price of Petrol will be Rs. 68.62 per litre & Diesel Rs. 62.02 on the basis of today’s prevailing selling price and these changes will come into effect from the midnight of 06th May, 2020/ 07th May, 2020.
With the hike in the VAT rates of petrol & diesel, the Administration will get additional VAT revenue of Rs. 100 Cr. approx. in this financial year 2020-21.
The earlier rates of VAT on petrol & diesel were 17.45% and 9.02% respectively.
With the increase in VAT rates, the selling price of Petrol will be Rs. 68.62 per litre & Diesel Rs. 62.02 on the basis of today’s prevailing selling price and these changes will come into effect from the midnight of 06th May, 2020/ 07th May, 2020.
With the hike in the VAT rates of petrol & diesel, the Administration will get additional VAT revenue of Rs. 100 Cr. approx. in this financial year 2020-21.
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